Primerica Reports Modest Revenue Growth and Significant Net Income Increase in Q2 2025

Primerica, Inc. reported its financial results for the second quarter and first half of 2025, showing a modest increase in total revenues and net income compared to the same period in 2024. For the three months ended June 30, 2025, total revenues reached $793.3 million, a slight increase of 0.3% from $791.0 million in the prior year. Net income for the quarter was $178.3 million, significantly up from just $1.2 million in the same quarter of 2024, which had been impacted by a loss from discontinued operations related to the Senior Health business. Basic earnings per share from continuing operations were $5.41, down from $6.08 in the previous year.

The company's performance was bolstered by a 14% increase in commissions and fees, which rose to $306.0 million from $268.2 million year-over-year. This growth was primarily driven by the Investment and Savings Products segment, which benefited from strong sales of variable annuities and mutual funds. Additionally, net premiums in the Term Life Insurance segment increased by 4% to $432.8 million, reflecting a growing in-force book of business. However, the company also faced challenges, including a 7% increase in total benefits and expenses, which amounted to $558.8 million, driven by higher sales commissions and operating expenses.

In terms of operational metrics, Primerica's independent sales force saw a slight increase in the number of life-licensed representatives, reaching 152,592 as of June 30, 2025, compared to 151,611 at the end of 2024. However, new recruits decreased, indicating potential challenges in attracting new sales representatives amid economic uncertainties. The company reported a total of 89,850 new term life insurance policies issued in the second quarter, down from 100,768 in the same period last year, reflecting ongoing cost-of-living pressures affecting consumer behavior.

Looking ahead, Primerica remains focused on its strategic initiatives, including the rollout of new segregated funds products in Canada and continued investment in technology and infrastructure to support its independent sales force. The company anticipates that cash flows from its operations will continue to provide sufficient liquidity to meet its obligations and support future growth. However, it acknowledges the potential impact of economic conditions, including inflation and interest rate fluctuations, on its business performance and customer demand for its products.